Ethereum breaks through the barrier - or set a record high before 2024!
Just as Bitcoin broke through the $107,000 mark, the price of Ethereum jumped over $4,000, which immediately ignited the emotions of retail investors. Before, because the price had not risen much, many people were worried. But now this wave of price increases has given everyone hope of hitting a new historical high, maybe before the end of 2024, or at the latest in early 2025.
Everyone knows that Ethereum has always followed the footsteps of Bitcoin, just like the big rise in 2021, the two currencies soared together, and the trading volume also rose, setting a new high together. But the situation is a little different now, and Ethereum seems to have started to play on its own.
One of the important reasons is that as soon as the results of the US election came out, the spot of ETH ETF flowed faster. And those big guys have long been ready for this wave of price increases, and their positions are increasing. Now they have reached the highest point since 2017.
Will Ethereum continue to rise next? When can it reach a new high?
Looking at the previous price trend of Ethereum, you can find that it is now similar to the previous wave of Bitcoin. Ethereum has also broken through the previous bottleneck, rising by nearly 60%, and is about to hit a new high of $108,000. Therefore, if Ethereum can have another wave of growth, the historical high will be more than $5,000.
Looking at the weekly chart of Ethereum again, the price has reached a critical position. If it goes up again, it may enter the final stage of hitting a new historical high.
From this point of view, the price of Ethereum is ready to make a big move, aiming directly at a new high before the end of 2024.
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